Sherman Inc. purchased or constructed the following assets during year 1. Use the spreadsheet below to calculate the amount that the company should capitalize for each of the following property, plant and equipment assets. Enter your answer in the appropriate shaded cell below. purchase price 325,000

demolition of existing structures on property 120,000

proceed from sales of scrap from the old building on the site 65000

cost incurred to grade and prave driveway and parking lots 40000

lawn and garden sprinlker system for the property 18500

legal fees incurred to purchase the property and paid at settlement 24000

WHAT IS THE CAPITALIZED COST OF THE LAND